Even though the Ripple-backed cryptocurrency, XRP, is experiencing a significant price decline, broader statistics denote that the coin is closing the year as one of its best in the last seven years. XRP has recorded a 1.60% decline in the last 24 hours, currently trading at $2.13 according to on-chain data.
Moreover, the downtrend has not deterred analysts from predicting a bullish outcome for the coin in 2025 with the most recent one targeting the $27 mark, backed by a repetitive historical trend.
XRP Witnesses Best EOY Close Since 2017
According to recent data shared by on-chain analytics provider, CryptoQuant, XRP’s 2024 Q4 saw its best in the last seven years after surging by 253% in the last 3 months. CryptoQuant emphasized that XRP last achieved this feat in 2017 when it rocketed by 1,064%. Interestingly, most of its gains at that time also came in December.
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XRP historical price movement | Source: CryptoQuant
While this year’s EOY number is significantly smaller than that of 2017, the XRP current price is relatively higher than it was seven years ago. Recall that XRP was trading at an average of $0.5 in November before it jumped exponentially by 400% to a multi-year high of $2.9.
Following this development, concerns have been raised about the possibility of extending this success into the first quarter of 2025 and beyond. Historically speaking, XRP usually witnesses bearish movements in January, however, this time might be different as several factors, especially political and regulatory, are set to shape XRP’s trajectory.
Precisely, Donald Trump, a pro-crypto president will take office on January 20th, as well as a new crypto advocate SEC chairman, Paul Atkins. The XRP community believes that this combo would favor the coin, as they anticipate a possible end to the prolonged Ripple vs SEC lawsuit.
Crypto Expert Predicts XRP to $27 Soon
Amid the notable 2024 success, crypto analysts are forecasting a bullish outcome for XRP in 2025. Popular market figure, Egrag Crypto, shared his analysis and predictions in a recent post on X. According to him, XRP is mirroring a similar pattern from 2017, when the coin began its record-breaking surge.
He noted that XRP has crossed its 21 EMA (Exponential Moving Average) in its two-week chart, indicating a bullish outlook for the fourth most valuable crypto asset. XRP posted a 50,000% surge when this pattern was first observed seven years ago.
XRP technical chart | Source: Egrag Crypto
Egrag stressed that if this same pattern persists, XRP could skyrocket by 4,770%, reaching $27. Compared to 2017, Egrag noted that a 4,770% surge is only a fraction, about 9.54%, of its full potential of 50,000%. His analysis underscores a growing confidence in XRP, as investors continue to hope for more.
Amid the current market decline, XRP has successfully stayed above the $2 level. Another analyst, Ali Martinez, noted that if XRP can sustain the $2.2 support, then it is clear for an imminent upsurge to the $2.7 mark. At the time of writing, XRP traded at $2.13, representing a 1.90% decline in the last 24 hours.
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